As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
Lloyd's Register (LR) and the Marine Design and Research Institute of China (MARIC) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.Announced at SMM 2026, the concept addresses the need to develop vessels and capabilities that can support a range of alternative fuel options and
Rising temperatures and humidity are increasingly compromising cargo integrity during transit, making prevention essential for operational resilience.Climate change is no longer a distant concern for shipping. Across Southeast Asia, rising temperatures and humidity, and more volatile weather patterns are increasingly affecting cargo integrity during transit.
Four major defense companies have proposed the establishment of an AUKUS Combat Systems Collaborative Team in contemplation of a potential role for Australia’s SSN-AUKUS conventionally armed nuclear-powered submarines, under a Memorandum of Understanding (MoU) signed Wednesday, November 5.
The Shipbuilders Council of America (SCA), the national association representing the U.S. shipbuilding, maintenance and repair industry, announced the incoming chairs of its Industry Partners Committee, which represents SCA’s supplier and manufacturer members across the country.John Rhatigan, Chairman of the Marine Machinery Association